As most of you know, I have spent the last several months criss-crossing the country teaching this new tax law to thousands of other tax professionals. It has been quite an eye opener.
My biggest surprise is how few tax professionals have taken this seriously. There are tons of tax professionals who are NOT taking any seminars on this stuff and they are just going to “let the tax software do it”. ARE YOU KIDDING ME?! That is absurd. I hope it is a huge comfort to my clients to know that I am on top of this new tax law. Let’s face it, when you have to teach it all across the country, you have to KNOW it. And it is complex and convoluted. I guarantee you that we will be spending a fair amount of extra time on the majority of our tax returns this year (and, yes, that translates into more fees for our clients…..sorry about that, but it ain’t our fault).
So, as we settle in for what might be the most difficult tax season in decades, don’t worry…..don’t panic…..rest easy……deep breaths……it will be okay and we WILL get through it together!
But what about the government shutdown? No worries……only 70,000 of the 80,000 IRS employees have been furloughed. What could possibly go wrong?
Just for the record…..this new tax law is the single biggest piece of tax legislation passed since 1986. No kidding. It is that large.
OK….gotta go. Take care and, of course, don’t hesitate to pick up the phone and give us a call.